Refunds from Australian retailers are made smoother with digital ID as Refundid joins ConnectID network
ConnectID, the Australian Payments Plus (AP+) owned digital identity solution, has welcomed Refundid to the network. Refundid is a leading fintech solution that provides instant refunds on purchases with some of Australia’s biggest retailers, including Country Road Group, Seafolly, Adore Beauty, DISSH, Culture Kings and PE Nation.
Through ConnectID, Refundid customers can securely and seamlessly verify their identity using an existing trusted source, like their bank. Aside from an elevated customer experience by reducing the need for manual data entry, the process bolsters protection against refund fraud and other risks associated with sharing sensitive information directly.
Ilan Kessler, CTO at Refundid shared, “Refundid helps retailers meet customer expectations by turning what is typically a negative experience into a positive one, so we’re always looking for clever ways to streamline and improve the refund process, and integrating with ConnectID was the perfect choice.”
“First time customers who are creating an account to receive their Refundid instant refund can now use ConnectID to verify their identity. What’s more, with Refundid being an
extension of our retailer’s service offering, joining the ConnectID ecosystem helps us further enhance customer confidence and trust,” Kessler continued.
According to research from AusPost, nearly 76%* of customers read the website’s return policy before placing an order, suggesting a seamless return policy is an important factor in their in purchasing decision. This, paired with the Australian Retailers Association’s prediction* that the slowdown in consumer spending will linger through much of 2024, underscores the importance for retailers to make a positive impression on consumers, and part of this includes enhancing the security of identity information.
Ensuring sensitive information is handled securely is paramount in the purchasing journey, and ConnectID’s integration with Refundid represents a significant step forward in digital identity solutions within the retail space.
“As more payment solutions enter the market, a streamlined refund process will continue to become increasingly important. Improving this user experience and making sign-up and identity verification a more straightforward process will become the standard across the industry and the expectation from all customers,” Kessler went on to say.
Andrew Black, Managing Director for ConnectID at AP+, emphasised the significance of digital identity in creating safer, more secure online environments for customers. “We’re excited to welcome Refundid into the ConnectID network. The growth and preservation of customer trust is a cornerstone of success in the retail world, and they can mean the difference between a single interaction and a long-term customer relationship. By joining
ConnectID, retailers can enhance consumer trust in the handling of their sensitive information, streamlining and securing identity verification while reducing the need for sharing ID documents.”
The addition of Refundid to ConnectID’s ecosystem is yet another example of how digital identity can reduce the need for businesses to manually collect, store or validate sensitive documents while benefitting from a secure and convenient verification process.
For further media enquiries, please contact: connectidau@hotwireglobal.com
References
Australia Post, 2024, Inside Australian online Shopping
Australian Retailers Association, 2024, ARA Retail Insights Report
About ConnectID
ConnectID is an Australian-owned digital identity solution which makes it easier for customers to verify who they are, using organisations they already trust. ConnectID does not see or store any data, it simply acts as the bridge that connects businesses to trusted and reliable identity data with customer consent, giving individuals more control over how their information is used and shared.
ConnectID was the first non-government digital identity exchange accredited under the Australian Government’s Trusted Digital Identity Framework (TDIF) and is supported by major Australian banks. ConnectID is an initiative of Australian Payments Plus (AP+) which brings together eftpos, BPAY and NPP Australia as one organisation. To find out more, visit connectid.com.au.
ConnectID began rolling out across participating organisations in October 2023.
About Refundid
Refundid partners with over 250 retailers globally, providing a customer-first returns platform that includes the revolutionary instant refund, giving customers their refund in under 30 seconds.. all at no risk to the retailer. It’s a win-win solution that turns what was previously a negative experience into a positive one, retaining more customers and delivering retailers a deeper level of insights into their overall returns and processes.